Herein, this review the synthesis of different types of copolymer of β-cyclodextrin (β-CD) by different functional monomers and cross-linkers is discussed. β-CD shows good inclusion property, surface area, porous structure and unique host-guest properties. CDs, the macrocyclic compounds are renowned for their inclusion ability. Several chemical and polymerized derivatives of parent CDs are synthesized to improve the physicochemical/biopharmaceutical properties of drug and inclusion capacity of CD. The future panorama of polymerized CDs is quite bright as they can serve as useful multifunctional tools for pharmaceutical scientists to develop and optimize drug delivery through various routes and in fabrication of biosensors. For drug delivery, the efficacy of monomer is made suitable and the well-known inclusion ability of β-CD is retrospected. The synthesized copolymer of β-CD is characterized via several microscopic and spectroscopic techniques such as synchrotron radiation based PXRD, TGA (thermogravimetric analysis), DSC and FTIR. The aim of this review paper is to study different methods of synthesis of copolymers of β-CD by different functional monomers and cross-linkers. The review suggests methods and conditions used for the optimized synthesis of copolymers of β-CD. Further, the application of β-CD in the field of tissue engineering, packing material, drug delivery, cosmetics, personal care and toiletry, waste management, catalysis adhesive and coating industry have also been discussed here.